Coinbase raises $25 million Series B in largest Bitcoin startup funding round to date by @jonrussell

Bitcoin’s price may be rising and falling day-by-day, but the virtual currency remains a hot topic for the tech industry and investors. Reflecting optimism in the space, Coinbase — a popular Bitcoin wallet service — has closed its $25 million Series B round led by Andreessen Horowitz. The company has also announced today that its user base has reached 600,000 wallets, that’s double the number that it reached back in mid-October. Existing investors Union Square Ventures and Ribbit Capital are the investors completing the record-breaking round for a Bitcoin startup. The round will see Andreessen Horowitz’s Chris Dixon and Union Square Ventures’ Fred Wilson — two vocal Bitcoin advocates — join the Coinbase board. The startup says it will use the funding to increase its staff of eight and “continue to educate the market, and promote the mainstream adoption of Bitcoin.” It was ...